Millennium Post

Case filed to recover Rs 650 cr from Amrapali

Noida: Problems of the real estate giant Amrapali builder seem to be ending nowhere as on Tuesday, the Noida Authority has lodged a fresh case against the builder in National Company Law Tribunal (NCLT).
The authority has filed a plea in NCLT to claim its dues of Rs 650 crore on the builder which is concerned with one of its residential project Amrapali silicon city located in Sector 76 in Noida.
"The builder is under a debt of thousands of crore rupees to the authority. As it was the last date to file claims against the builder, we have also filed our claim to recover Rs 650 crore from the Amrapali group against Amrapali Silicon city project.
"We will ensure that the homebuyers are safe and will also seek legal opinion to save their interest," said a senior official from Noida Authority.
The mentioned project of builder has been in limelight in past few days after National Company Law Tribunal accepted Bank of Baroda's insolvency plea against Amrapali Silicon City in Sector 76, Noida.
The bank initiated the process for an outstanding amount of Rs 56 crore.
The move caused panic among homebuyers as according to them their investment will not be protected under insolvency and bankruptcy code because NCLT gives preference to financial creditors (banks) before buyers.
Later, a public announcement came on September 7, 2017 that had asked buyers and authority to submit their claims along with supporting claim documents and evidence to prove their claim.
Homebuyers' associations have held camps in the society over the weekend to help buyers fill the forms.
Tuesday was the last date to fill the claim form.
The documents to file the claim include allotment letter, receipts, sale deed, agreement of Sale, bank statements, etc.
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